Below Is Some Data for a Hypothetical Economy

question 41

Multiple Choice

Below is some data for a hypothetical economy:

-Refer to the information above to answer this question.If government increased both its spending and taxes by $60,what would be the new equilibrium income?

• A)$1,210
• B)$1,050
• C)$823.33
• D)$1,070
• E)$1,090

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Definitions:

Incentive Wage Plans

Compensation schemes designed to motivate employees by linking pay directly to performance or productivity levels.

Motion Study

An analysis technique aimed at improving work efficiency by breaking down tasks into their fundamental motions and eliminating those that are unnecessary.

Administrative Principles

Fundamental rules and guidelines related to the organization and management of businesses, focusing on efficiency and planning.

Contemporary Businesses

Modern business enterprises that operate in the current market environment, characterized by rapid technological advancements, globalization, and changing consumer preferences.